NextEra Energy Partners (NYSE:NEP) Stock Price Up 3.8%

NextEra Energy Partners, LP (NYSE:NEP)’s stock price was up 3.8% during trading on Thursday . The company traded as high as $27.09 and last traded at $26.83. Approximately 582,822 shares changed hands during trading, a decline of 59% from the average daily volume of 1,417,729 shares. The stock had previously closed at $25.84.

Wall Street Analysts Forecast Growth

NEP has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Raymond James cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. Barclays cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $32.00 to $25.00 in a research report on Thursday, June 13th. Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Wednesday, June 12th. Finally, Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.67.

NextEra Energy Partners Stock Up 0.9 %

The business’s 50 day simple moving average is $25.64 and its 200 day simple moving average is $28.21. The company has a market capitalization of $2.53 billion, a PE ratio of 8.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. As a group, analysts anticipate that NextEra Energy Partners, LP will post 1.74 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a $0.905 dividend. This represents a $3.62 dividend on an annualized basis and a dividend yield of 13.39%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is 118.69%.

Institutional Investors Weigh In On NextEra Energy Partners

Several large investors have recently modified their holdings of NEP. Richardson Financial Services Inc. acquired a new position in NextEra Energy Partners in the fourth quarter valued at $27,000. Hexagon Capital Partners LLC boosted its position in shares of NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares in the last quarter. Heritage Wealth Advisors acquired a new position in NextEra Energy Partners in the fourth quarter worth approximately $33,000. Central Pacific Bank Trust Division acquired a new position in shares of NextEra Energy Partners in the 1st quarter worth $36,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of NextEra Energy Partners during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.